PWB vs QQQM: Differences, Returns & Fees
PWB and QQQM hold 42% of their weight in the same names, and PWB returned +20.2% over the year. Net assets on Oct 20, 2026: $2.6bn for Invesco Large Cap Growth ETF and $108.5bn for Invesco NASDAQ 100 ETF.
QQQM costs 0.40 points a year less; their one-year returns differ by 2.2 points; QQQM is far larger, $108.5bn against $2.6bn.
| PWB | QQQM | |
|---|---|---|
| Expense ratio | 0.55% | 0.15% |
| Net assets | $2.6bn | $108.5bn |
| Total return, 1 year | +20.2% | +18.0% |
| What it tracks | Dynamic Large Cap Growth Intellidex Index | Nasdaq-100 Index |
| Holdings in common | 42% | |
| Top ten holdings, share of the fund | 36.0% | 47.2% |
| Below its high | 8.9%, high on Jun 22, 2026 | 5.5%, high on Oct 6, 2026 |
Holdings in common uses holdings dated Oct 19, 2026.
PWB and QQQM are built for the same job. How do they differ in cost, holdings and results?
- What each follows. PWB follows Dynamic Large Cap Growth Intellidex Index and QQQM follows Nasdaq-100 Index.
- Holdings in common. 42% of the weight is in the same securities (holdings dated Oct 19, 2026).
- One-year total return. Over 1 year to Oct 20, 2026 PWB returned +20.2% and QQQM +18.0% with distributions reinvested, a gap of 2.2 points.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, PWB and QQQM hold 42% of their money in the same securities at the same weight. Holdings dated Oct 19, 2026.
half
42% in common
On the same fields
PWB and QQQM on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About PWB
PWB tracks an index. The prospectus expense ratio is 0.55% a year. By its holdings published by its issuer for Oct 19, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 52 positions, with the top ten at 36.0%. It sat 8.9% below its high of Jun 22, 2026 on Oct 20, 2026.
Over the year to Oct 20, 2026 it returned +20.2% with distributions reinvested, against +15.0% for its benchmark, the Russell 3000 Index.
About QQQM
QQQM tracks the Nasdaq-100. Over the year to Oct 20, 2026 it returned +18.0% with distributions reinvested, against +17.9% for its benchmark, the Nasdaq-100 Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 19, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 105 positions, with the top ten at 47.2%. It sat 5.5% below its high of Oct 6, 2026 on Oct 20, 2026.
Questions people ask
- Which returned more over the last year, PWB or QQQM?
- In the year to Oct 20, 2026, with distributions reinvested, PWB returned +20.2% and QQQM +18.0%.
- Which is cheaper, PWB or QQQM?
- QQQM is cheaper, by 0.40 percentage points a year. That is about $40 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, PWB against QQQM, data as of Oct 20, 2026. https://etfiq.com/compare/any/pwb-vs-qqqm
ETFIQ. (Oct 20, 2026). PWB against QQQM. Retrieved from https://etfiq.com/compare/any/pwb-vs-qqqm
[PWB against QQQM (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/pwb-vs-qqqm)
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